thingtank on Nostr: The risk is too high. The reasons get complicated for retail investors. Depending on ...
The risk is too high. The reasons get complicated for retail investors. Depending on how DCG and Gemini formed their loans of GBTC, Grayscale assets may get pulled into DCG’s bankruptcy. In other words Grayscale may not be considered a separate entity under the law and GBTC’s bitcoin could be distributed. There are activist investors looking to usurp Grayscale as the sponsor and hopefully this doesn’t happen (redeemgbtc.com). You will be charged fees based on the NAV and not the ticker price. When it’s 50% NAV, you effectively get charged 4% fees on bitcoin. Not your keys, not your bitcoin is a wise saying—it gets reinforced every few years.
Published at
2022-12-27 21:32:30Event JSON
{
"id": "d8cbe99f4d2ed2ab666dfd2b3b0b56109bccc28569fd1c3bac94e7dbb04775f8",
"pubkey": "9ef9b55d7ae01054fddbf471c8f67df815789ad52c49255f624fe93fdd637c88",
"created_at": 1672176750,
"kind": 1,
"tags": [
[
"e",
"3d544de544cfc8d508b8e581054c9116f6a6e8b0074cf25a99b23f692355c2b1"
],
[
"p",
"fe32de218d980cc10e6d55b0f6866d92af64fd6cc28f5dd1d2b9b9e923cc271b"
]
],
"content": "The risk is too high. The reasons get complicated for retail investors. Depending on how DCG and Gemini formed their loans of GBTC, Grayscale assets may get pulled into DCG’s bankruptcy. In other words Grayscale may not be considered a separate entity under the law and GBTC’s bitcoin could be distributed. There are activist investors looking to usurp Grayscale as the sponsor and hopefully this doesn’t happen (redeemgbtc.com). You will be charged fees based on the NAV and not the ticker price. When it’s 50% NAV, you effectively get charged 4% fees on bitcoin. Not your keys, not your bitcoin is a wise saying—it gets reinforced every few years.",
"sig": "186cd4aa8d84bfb2ccf823e08336536196d8726b22ac78a12b15428ddcbbff601456d72c3a907bf5fa75d6259dbd592f1aaa7fd1076c041b7fff4917f23f2024"
}
